5 Cyber Security Threats Facing Enterprises in 2022

The cyber threat atmosphere is becoming more perilous every day. A recent survey by the World Economic Forum revealed the number-one concern of executives in advanced economies is cyber-attacks. Here are the top 5 cyber security threats companies can anticipate to contend with in 2022.

Phishing Schemes

Phishing schemes are the beginning of virtually all effective cyber attacks. A highly targeted spear phishing technique, Business Email Compromise (BEC), is liable for over $12 billion in global losses. While still associated with emails, this threat has progressed to include text messages, phone calls, and other social media propaganda to trick its preys.

Cloud Cyber Security Threats

Thanks to cloud computing, hackers have a wider attack realm. This has led to a multitude of new cyber security threats and exposures, including cloud malware. Organizations must approach cloud security in a different way than on-premise — and this starts with ensuring you’re secure from the very beginning. Rock-solid cloud security begins with a secure cloud migration.

Shadow IT

Shadow IT refers to Information Technology (IT) applications and infrastructure that are managed and utilized without the knowledge of the enterprise’s IT department. Over 80% of employees admit to using shadow IT apps at work. While generally not negatively motivated (most employees use these apps to do their job better), with 80% of employees admitting to their use, shadow IT has become a serious compliance and cyber security threat. Since internal IT departments are completely unaware of the apps, they can’t monitor access, ensure regular backups, or apply updates.

Cryptojacking

Now even more common than ransomware, cryptojacking malware lets hackers takeover enterprise computer equipment in order to “mine” cryptocurrencies. While cryptojacking malware used to predominantly target small consumer devices, it is now designed to attack enterprise networks – posing a severe cyber security threat that can crash applications and even damage hardware.

Ransomware

Despite the rise in cryptojacking, ransomware is still a serious cybersecurity threat. Of those most at risk are healthcare and critical infrastructure systems (i.e. cities and towns). One-quarter of the victims of December 2018’s SamSam ransomware attack are in the healthcare sector, and SamSam was the perpetrator in the ransomware attack on the City of Atlanta. It is believed by authorities that SamSam hackers have profited over $6 million from the malware.

As a business communications provider, Parallel is committed to protecting its customers from security threats. For advice and resources on how to approach your cybersecurity, contact sales@paralleltech.com.